By Huw Jones LONDON (Reuters) – Britain needs to plug data and monitoring gaps in its fast growing ‘non-bank’ sector where liquidity during market crises could be helped by having access to government bond operations, the International Monetary Fund said on Tuesday. Non-banks comprise hedge funds, mutual funds, pension funds, money market funds and insurance …
IMF tells UK to plug gaps in fast growing ‘non-bank’ sector Read More »
By Huw Jones LONDON (Reuters) – Britain’s financial watchdog refused on Tuesday to widen a redress scheme that had excluded businesses missold interest rate hedging products, despite a critical review by an independent lawyer of the regulator’s actions. The products were supposed to protect businesses from rising interest rates, but when rates fell, companies had …
UK regulator says won’t widen rate hedging redress scheme Read More »
LONDON (Reuters) – Britain is due to face more disruption to its trade with the European Union when it introduces new post-Brexit customs checks on Jan. 1, the head of the International Monetary Fund, Kristalina Georgieva, said on Tuesday. “Trade with the EU has dropped significantly and we expect there will be more impact ahead …
UK to face more post-Brexit trade problems soon, IMF boss says Read More »
LONDON (Reuters) -Google and Apple hold a “vice-like” grip over how people use mobile phones, stripping any meaningful choice from the system and potentially hiking costs, Britain’s competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said it had provisionally found that the two groups were able to leverage their market power to …
UK regulator says Google and Apple hold ‘vice-like’ grip on consumers Read More »
By Elizabeth Howcroft LONDON (Reuters) -Sterling was pushed higher by a weaker dollar on Tuesday but little changed against the euro, as uncertainty around the Omicron variant of COVID-19 limited the market impact of strong UK jobs data. Since the first Omicron cases were detected on Nov. 27 in Britain, the UK has imposed tougher …
Sterling strengthens vs weaker dollar as investors focus on Omicron Read More »
By Paul Lienert (Reuters) – Germany’s ZF Friedrichshafen, one of the world’s largest suppliers of auto parts, has acquired a 5% stake in Silicon Valley mobility software startup Apex.AI in a fundraising round led by investment firm Orillion. Other high-profile companies involved in the Series B round that raised $56.5 million included German auto supplier …
ZF takes stake in mobility software startup Apex.AI as it raises $56.5 million Read More »
(Reuters) -Royal Dutch Shell said on Tuesday it would buy U.S.-based solar and energy storage developer Savion from Macquarie’s Green Investment Group, to expand its global solar portfolio as part of its push to move to net zero emissions. The oil major did not disclose the value of the deal, but said https://www.shell.com/media/news-and-media-releases/2021/shell-acquires-savion.html the acquisition …
Energy giant Shell to acquire U.S.-based Savion in solar power push Read More »
By Lawrence White and Simon Jessop LONDON (Reuters) -HSBC, Europe’s leading banker to corporate Asia, laid out its long-awaited policy on financing thermal coal on Tuesday, and said it expected all its clients to have a plan in place to exit the fossil fuel by the end of 2023. Coal is contentious for governments across …
Exclusive-HSBC says clients must have plan to exit coal by end-2023 Read More »
(Reuters) – British Airways’ short-haul flights from London’s Gatwick airport will start by March end, with an initial plan to fly to 35 destinations, the airline said on Tuesday. The airline had in August announced its intention to create a short-haul standalone business at Gatwick, similar to its operation from London City Airport, which works …
British Airways says short-haul flights from Gatwick to start by March end Read More »
LONDON (Reuters) – British finance minister Rishi Sunak said on Tuesday that Colette Bowe had been re-appointed to the Bank of England’s Financial Policy Committee. Bowe’s first term as an external member of the FPC is due to end on Aug. 31 next year and her second three-year term will end on Aug. 31 2025. …
UK gives Bowe a second term on Financial Policy Committee Read More »
